White-Collar Hiring Declines in January: Report

White-collar Hiring Declines in January

(PTI): Hiring of white-collar workers fell 11 percent on an annual basis in January, while it sequentially rose 1 percent during the same period, a report said on Tuesday.

On a year-on-year basis, the overall hiring in the IT sector declined 19 percent in January this year. However, healthcare, hospitality, and FMCG witnessed annual job growth last month in an otherwise cautious market, according to Naukri JobSpeak Index.

The Naukri JobSpeak is a monthly index representing the state of the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database of Naukri.com.

As per the report, hiring for niche AI-related roles such as machine learning engineer and full stack AI scientist jumped 46 percent and 23 percent, respectively, year-on-year.

Also read: Tech sector has terminated over 30K employees globally

On an annual basis, hiring in the healthcare sector rose 7 percent in January with a maximum increase in demand for administrative roles.

Recruitment in the travel and hospitality sector recorded a growth of 5 percent y-o-y.

With the ongoing boom in both domestic and international tourism, demand for restaurant managers and service managers remained at elevated levels, and hiring in this sector was high in Bangalore and Mumbai, the report said.

Meanwhile, sectors like BPO witnessed a 16 percent degrowth in hiring, insurance saw a decline of 8 percent, and education and retail sectors reported a fall of 7 percent each.

“The significant rise in AI-related jobs is indicative of the changing skill requirements in the IT sector, while the positive hiring sentiment in healthcare, hospitality, and FMCG reflect a strong domestic economy,” Naukri.com Chief Business Officer Pawan Goyal said.

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February 2024

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